Bill > SB72

This bill modifies the Sales Tax Relief Act by updating the income thresholds and claim amounts for residents of Oklahoma seeking sales tax relief. For calendar years through 2024, the existing provisions remain largely unchanged, with income limits ranging from $12,000 to $50,000 depending on the individual's exemption status. Starting in 2025, the bill introduces new, more generous claim amounts and adjusted income thresholds: individuals with no additional exemptions can claim $200 if their household income is under $35,000 or $100 if their income is under $40,000, while those with additional exemptions (such as seniors, people with disabilities, or those with dependent exemptions) can claim $200 if their household income is under $45,000 or $150 if their income is under $50,000. The bill maintains existing provisions about who can file, such as restrictions for inmates and definitions of allowable personal exemptions. The changes aim to provide broader and potentially more substantial sales tax relief to Oklahoma residents, with the new provisions taking effect on November 1, 2025.

Budget and Finance

http://www.oklegislature.gov/BillInfo.aspx?Bill=sb72&Session=2600